Cash and Cambios

[StillLovely]

After reading about the trouble some people have with ATMs in Rio, and especially after speaking with a friend here in NY who had major problems with ATMs in Rio, I'm thinking of perhaps doing what I've done in the Domincian Republic.

 

In the Dominican Republic, I pay my hotel bill with a credit (debit) card, but bring US dollars (cash) with me for spending money. I exchange a little at the airport when I arrive and then exchange what I need to every couple of days at a casa de cambio and keep the rest locked in my hotel safe. I get a better rate at a casa de cambio than I get from an ATM, and there's no concern over whether the ATM is working, ATM fees charged by my bank or the exchange rate I'm getting.

 

My question is this. I'm not sure what they're called in Portuguese, but are there plenty of casa de cambios in Rio and do they tend to give just as good or better rate than ATMs?

 

Thanks for any advice . . .

[Big Daddy]

I never had a problem with an ATM in Rio. They are basically everywhere and are safe. This trip, the only change I am going to make is that I will pay in realis at any establishment that does not take American Express. I draw a $R1000.00 everyday or so, and keep the money in the safe. I do not bring anyone back to the hotel as Wan Hallen is with me, so do not have to worry about getting ripped off.

[trilingual]

Chill, folks! Rio is NOT rampant with problems. You can use your cards safely just about anywhere. There's no need to get obsessive about this!

 

There ARE cambios (many clustered on Av. Copacabana near the Copacabana Palace hotel) where you can get a better rate than at the banks. In the days of hyperinflation these were the best places to change money by far, because there was a big difference between the official and "parallel" rates (as the blackmarket rate is politely referred to). These days the difference isn't that large, so it may not be worthwhile unless you're changing very large sums of money (in the tens of thousands of dollars or reais).

 

The problem with using cambios (or withdrawing large sums of money at one time on an ATM) is that you have to do something with all that cash, and you will have to be out on the street with it for at least some period until you can get it to a safe place.

 

My suggestion remains the same: Make a good size withdrawal for spending money at a convenient ATM. Stash it safely in your hotel/apartment and just go out with what you'll need for the day/evening. Use CREDIT cards for meals/shopping/sauna entrance fees/taxis from airport/etc. You'll be fine. If you run low and your bank doesn't charge for foreign ATM use, there's a big Bradesco branch on Siqueira Campos just past the Atlantico hotel where you can replenish on your way to the sauna. (There's a R$600 withdrawal limit, but you shouldn't need that much for a night at the baths, unless you're Tomcal.) In the Brazilian bank lobbies, just look for ATM machines marked "saques" or "multi-função," as long as one of the functions is "saques" (withdrawals). Many of the ATMs are for other functions and don't dispense cash.

[slimdude2]

When I was in Rio last Nov, I always used the Citibank ATM next to the blockbuster video store. It was easy to use and in English.

I was afraid to use the other ATMs because I was not sure if they

were in English. Does the ATMs mentioned in this thread have English as an option?

[StillLovely]

Yes Tri, you're right. I need to chill. I don't know why I'm getting so worked up over things. With this breakup, my present emotional state is highly strung. I'm sure everything will be fine. I'll take all your suggestions re ATMs and credit cards.

 

And thanks also, Big Daddy, for reassuring me.

 

I'll stop now with the ridiculous questions that have been covered over and over on this board. I've been to more than one third world country, and I live in West Harlem in NYC. Things will go wonderfully, I'm sure.

 

Thanks everyone.

[Guest Tomcal_]

The Bradesco branch behind the Atantico has 8 Atm's, the three along the right hand side as you walk in, with the large Light blue discs above them(the others have other colors) have English as an option.

The HSBC banks, there is one about 100 feet down from the Blockbuster/citibank ATM, also has English as an option and you can you American ATM cards as well as Credit cards.

[trilingual]

Even when there are no English instructions on an ATM, you'll usually find that once you insert (or dip) your card in the machine the screen will give you an option to continue in the local language or in English. This is true in many countries. In Brazil, Bradesco and HSBC machines let you proceed in English. Citibank machines are bilingual. Other banks should work similarly.

[williewanker2]

I have not had any problems with ATMs in Rio. I am, however, cautious about using them to avoid being mugged. I only go to them during the day and put the extra money immediately in my hotel safe.

 

Being a "nervous nelly" (see my posting on a similar topic), I do bring some travelers checks as a backup just in case there is a problem with the use of my debit card in the ATMs or a problem with my credit card paying my hotel bill. I have had problems with both though in countries other than Brazil.

 

I would not suggest bringing cash dollars as a backup because of the risk of theft. I have friends whose pockets were picked and lost their cash and their passports even before they were out of the customs area of the airport. Keep a photo copy of your passport seperate from the real thing. If nothing else, this will greatly simplify getting a temporary passport from the US Embassy if you lose yours.

 

Nervous Nelly (aka Bobbie)

[trilingual]

Crime is a problem in Rio, although it's not rampant in the Zona Sul where you'll be spending most of your time. Bank ATMs are closed by 10:00 p.m. to avoid robberies. (There are some 24 hour ATMs in case of emergency; usually they're inside all-night supermarkets or pharmacies. I know there's an ATM on the 4th floor of the Meridien hotel, near the restrooms -- it's the floor where the hotel's everyday restaurant is located.)

 

Making a copy of your passport information is a good idea. It will help in case of loss. You can also carry it with you for ID instead of the actual passport itself. If you're from a country whose citizens need visas to be in Brazil be sure to copy the page with the visa on it, too. If you have to replace your passport you'll also have to replace the visa at the Policia Federal, and the copy will help.

 

Nervous nellies should also make a list of all their credit cards and have it in a safe place. Include the card number and a non-800 number you can call collect from Brazil to notify the issuer of loss or theft (ask the customer service or security department of the issuer for the non-800 number). You can make collect calls back to the U.S. via ATT. In Brazil dial 0800-890-0288 or 0800-888-8288 and then listen to the directions, which will eventually tell you how to make the call collect. Include these Brazilian numbers for ATT on your list. Visa and MasterCard both have 0800 toll-free numbers from Brazil (and many other countries, including Argentina) that will connect you directly to their international customer service unit, which can then transfer you directly to the bank that issued your card to report loss/theft or deal with problems like the card being blocked because it's being used a lot abroad. The numbers are found in the FAQ, above -- copy the numbers and also put them on your list.

 

It doesn't always work, but to avoid your cards being blocked call the customer service number BEFORE you travel. Ask for the security department (or select the option to report a lost or stolen card) and then inform them that you'll be traveling in Brazil between such and such dates, you'll be using the card there, and you'd like that information inserted in your card's record to avoid blockage of the card while you're away.

 

If you do this you should have peace of mind about any possible problems while you're traveling.

[rapaz7]

I have not tried this yet but I plan to next time I am an Rio. You can now purchase travellers checks from American Express and instead of using the paper checks you can have a pre paid amount put on a card. If you lose it or have a problem you can cancel it and get a replacement. (There is an Amercian Express office in Rio) It sounds pretty good and you can order them at the American Express website or probably get them at your bank.

 

Rapaz7

[Big Daddy]

I checked into the American Express pre paid card. It costs initially $15.00 and you have to load a minimum of $300, with a maximum of $2750.00. It is accepted at any merchant that takes American Express. The number of ATM's however is limited. Further, it is only accepted at an American Express office that also has an ATM. Am Ex could not tell me whether or not there is an ATM at the office in the Copacabana Palace. In Rio, it is only accepted at HSBC, which is ok in that there are quite a few HSBC branches. It would not however be accepted for example at Citibank or Banco do Brasil.

[williewanker2]

I am skeptical of relying completely on any kind of card or electronic account as my only source of cash or payment when traveling abroad. This includes the new American Express card that is described here as a substitute for paper travelers checks. In the end, an American Express office must cash their own paper checks. It is the only fail safe way of getting cash.

 

I once took $12,000 in travelers checks to a European country to buy a car. The car dealer would not accept them. I had to take them to the American Express office which fortunately had that much cash on hand. I then carried a large wad of bills back to the car dealer.

 

With a card, the ATM may not work or the hotel or retailer won't accept it. This includes the American Express office who can always claim that the computer is down or there is some problem with your account but only the NY office can fix it and they are closed, etc. etc. They don't have the same excuses with a paper travelers check unless they want to claim that you stole them or they are counterfit.

 

This is why I always carry at least some travelers checks as my ultimate backup source of cash to be used when all else fails.

 

Williewanker

[trilingual]

It's a good idea to travel with some cash on you, but with the availability of ATMs you don't need to take huge wads of dollars with you. That was how you had to travel to Brazil and Argentina in the bad old days of hyper-inflation, when you only changed money on the "parallel" market to get the best exchange rates (the official rates at the banks were absurdly lower in those days, so nobody changed money there). You basically had to take ALL your spending money with you.

 

500 dollars or euros (in smallish bills) should be enough to see you through any minor emergency in Brazil or Argentina. That's almost 1500 reais or pesos, which will take care of a lot of problems! Unlike the bad old days, credit cards are accepted almost everywhere in both countries, so you only need cash for transportation, cheap meals/snacks, and (of course) the sauna guys. But ordinarily you can get sufficient cash at any ATM, so you don't have to travel laden with money! All you need is an emergency reserve.

 

For the security-conscious, L.L. Bean (http://www.llbean.com) makes a great money belt (item #TA45298) that's a real men's everyday belt! It's available in brown or black, and has a zipper compartment on the inside of the belt so you can fill it with cash folded in three length-wise. It's completely unobvious and unobtrusive, and I managed to stuff two-months worth of travel expenses in one on my first trip to South America in 1983! A great travel accessory!